This blog details various ways to build up your savings and how my family does it in real life.

Wednesday, February 24, 2010

Learn To Resell Your Used Items

Tip #234 - Learn To Resell Your Used Items. While not everyone is guilty of having too much clutter laying around their house, most people outgrow clothing, change furntiure style, finish up with books, or upgrade their electronics or appliances. And for every item that is no longer useful to you but is still in good condition, there may be many more people who would be happy to obtain it. So rather than put everything into a bag for the donation pile, why not try to sell some of these items? And I don't mean just having a yardsale and hoping that a market for the particular items you have come to you.

Instead, learn to resell your items through more sophisticated means. If you live in a big city or near one, Craigslist is an easy way to resell some of your unwanted items. And the beauty of Craigslist is that it is easy. It is as simple as going to their site, choosing a category, and describing the item that you have to sell. Your "ad" improves dramatically if you have a picture, and I do think it is worthwhile to learn how to upload pictures to this site. But even if you don't have that knowledge, you can still list your items that you no longer want. I did a detailed post on how to sell on Craigslist.

If you live in the middle of nowhere, Craiglist is not usually a good option for small things, but may still be worthwhile for larger items you no longer want, like appliances and furniture. If the items you wish to get rid of are small and not too valuable, you have a few other options. Clothes can be brought to consignment stores. Books, music, and movies can be sold on Amazon. Toys and baby things can be brought to church consginment sales in the fall and the spring. If you have valuable collectibles, it might make sense to try to unload these at an auction house, antique store or similar collectible shop. But make sure you do your homework first so that you do not get taken.

When you are comfortable selling things, you can always try your hand at eBay. The beauty of eBay is that it is a venue for selling most everything from coins to dolls to kitchen ware to DVDs. It is not just for antiques and valuables.

Taking the step to try to sell some of your unwanted items before putting them in the donation pile can yield hundreds of dollars that can be put towards savings. You will most likely still find plenty of things to donate to charity but you will help your own cause for savings, too.

In Real Life (IRL) - I slowly started selling things around my house about 8 or 9 years ago on eBay. At the time I did not know about Craigslist. At first I thought eBay was for antiques and valuables. And I spent time looking in my closet for that valuable toy that I may have saved from my childhood that was now worth something. But I never did find it. And instead I learned that selling on eBay or Craigslist or to consignment shops isn't just about selling antiques and collectible items. People like to buy useful everyday items from these venues, too. I know because I have bought these types of things on eBay, Craigslist, Amazon, and consignment stores and sales, too.

On the selling end, we have sold many of our baby things such as exersaucers, crib sheets, strollers, and even a carseat cover on Craigslist and eBay. They were no longer useful to us, but they were valuable to someone else. In the past, these items would have gone in the Purple Heart or Goodwill pile. Instead, we earned money on these items and were able to put them toward things our child needed like a toddler bed, bigger clothes, and a booster seat. We have also gotten rid of childhood furniture and bought new (to us) furniture on Craigslist.

We've also sold things like toasters, sewing machines, cameras, and cell phones when we've upgraded or not needed them. We've bought things like a computer monitor, a t.v. cabinet, and a computer armoire. I often list books on Amazon or bring them to a nearby used book store. Sports equipment and musical instruments are also good sellers on the secondary market.

Before I started buying used things, I didn't realize how many other people bought things used, too. Things that I would have just donated in the past have brought in hundreds, if not thousands, of dollars. With the economy the way it is, even more people are turning to the secondary market to purchase used goods, so it's a good time to start selling there.

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About Me

I am a SAHM who has always been interested in putting away money, spending less, and looking for a cheaper way to do things. My husband and I hope to retire by the time we are 60.
I am currently 44 years old and have saved a substantial amount of money since I graduated from college 20 years ago. This was done by saving, careful managing of money, and wise investing. While I do have a finance degree, it certainly doesn't take one to accumulate money. The big key is to take in more than you let out. Join me here and I'll show you how!

Welcome to Saving Money Tips In Real Life (IRL)

This is where I give tips I have learned over the years on how to save money and how I have applied them in my life. There are no quick-rich schemes. Just common sense ideas on saving money, spending it wisely, and how it works in real life.

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